Intermediate Microeconomic Theory

ECON-2010

This course combines demand, derived from consumer preferences, and supply, based on firms' production functions, to establish market prices for goods and services. Calculus-based techniques are used to minimize costs and maximize utility and profits across differing industry structures. Product pricing strategies are examined. The course also provides an introduction to topics such as the pricing of stocks and bonds, game theory, positive and negative externalities, asymmetric information, and behavioral economics. Applies the microeconomic theory of the firm to price, cost, and output decisions of business enterprises under different market structures. Regression analysis of demand and cost, linear programming of production and simulation analysis of risk, and capital budgeting are also presented.

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